Article(s) associated to this keyword
- Tesco Joins Mortgage Market
- Chancellor Considers Halting Stamp Duty
- Credit Crunch Is A Year Old
- Avoid Mortgage Arrears
- It’s Tough For First-Time Buyers
- Housing Market Slides Again
- Extend The Loan Period To Cut Repayments
- Calls For Stamp Duty Overhaul To Boost Property Market
- House Prices Down Again
- Mortgage Approvals Hit New Low
Britain’s biggest supermarket is joining the mortgage market, to be launched after it buys RBS out of its share of the Tesco Personal Finance joint venture.
In a bid to help people through difficult economic times, and also in an attempt to boost the ailing property market, Chancellor Alistair Darling is looking at a range of measures, one of which is scrapping stamp duty for a period.
The credit crunch has been with us for a year. The banks failed to see it coming after the US sub-prime crisis. They now seem to be waiting for recovery to begin in the US, instead of firing it up in the UK themselves. Boom and bust is back with us.
There are ways to cut down your monthly mortgage repayments, although some may cost you more in the long term. Consider the options and make the choice that will suit you.
For low-income earners the cost of a first home would take all their after tax pay. However, affordability in terms of mortgage repayments has improved in the last few months. One mortgage provider has cut some fixed rates.
The monthly RICS survey reports housing market activity at its lowest rate since records began. Buyers either can’t or won’t buy, maybe waiting for prices to go even lower. However, the number of buyers registering with estate agents is showing a small increase.
At a time when household bills are on the rise, people are looking for ways to keep their mortgage costs down. One way is to extend the period of their mortgage loan, taking it above the normal 25 years. This can keep monthly repayments down, but costs more in the long term.
The Royal Institution of Chartered Surveyors wants stamp duty to be overhauled so that the property market can get moving again. The Treasury is making eight times as much from stamp duty now as it did when Labour came to power in 1997. RICS wants changes so that the tax remains fair.
The fall in house prices continues, with another 2% off in June. Forecasts are now for house prices to continue falling until 2010 as there seems to be no let-up in downward pressure on property prices.
Mortgage approvals hit a new low in May. This tends to indicate that house prices still have some way to fall before they recover. Some industry experts blame the lack of mortgage availability for the fall.
